Nomura wins Lehman Brothers bargain Asia business

Nomura has brought the Asian business of failed US investment bank Lehman Brothers for $230 million (£125 million). Nomura are Japans largest brokerage house were in a bidding war with Barclay’s for the Asia business. The deal was said to have signed earlier today and was described as “a steal” by company insiders.

The battle still continues between Nomura and Barclays to buy large chunks of the failed US banks European operations. It’s hinted that both back placed their bids last night and that that decisions will be made within 24 hours.

Lehman Brothers Asian operations extend from Mainland Chins to Australia and include Thailand, Singapore, Taiwan and Japan.

The speed of the deal came as a surprise Japan watchers, as Nomura were thought not be aggressive enough to take on Barclays. It’s clear that the outcome of this deal shows that Japan is ready to take full advantage of the financial crisis that hit Wall Street last week.

Read the full story in timesonline